A beneficial owner may bring an action in the circuit court in the right of a business trust to recover a judgment in its favor if trustees with authority to do so have refused to bring the action or if an effort to cause those trustees to bring the action is not likely to succeed.
S.D. Codified Laws § 47-14A-72
Authority of beneficial owner to bring derivative action
Known as the South Dakota Business Trust Act
The act spans §§ 47–47 (95 sections).
Source: SL 2001, ch 245, § 72.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.